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A Path from Renting to Owning
Rent-to-own lets you live in a home today while you work toward buying it, with time to get your credit and savings ready.
Clear Property Details
See the location, photos, pricing and home features for each listing, whether you're at home, on the go, or standing in front of the house.
Saved Searches and Alerts
Save the areas and price ranges you care about, and get email alerts when new rent-to-own homes match your search.
Is Rent-to-Own Right for You?
Rent-to-own can make sense if you're ready to settle into a home but aren't quite ready for a traditional mortgage yet. It's often a good fit for people who:
- Are building or rebuilding their credit.
- Are still saving for a down payment and closing costs.
- Want to live in a home and get to know the neighborhood before buying.
How Rent-to-Own Actually Works
You rent the home for a set term under an agreement that gives you the option, or the obligation, to buy it later. You usually pay an upfront option fee, and the purchase price may be locked in when you sign.
The Option Fee
Most agreements start with an upfront option fee paid to the seller. It's often non-refundable, so ask whether it will count toward the price if you buy.
Rent Credits
Some agreements credit part of your monthly rent toward the purchase. The rent may be set higher to cover that credit, and credits are usually lost if you don't buy, so read the terms closely.
A Locked-In Price
The purchase price may be set when you sign, which can help if home values rise. If values fall, you could be agreeing to pay more than the home is worth when it's time to buy.
Know Which Agreement You're Signing
Rent-to-own contracts come in two main forms, and the difference matters. Read every agreement closely so you know exactly what you're committing to.
Lease-Option: The Right to Buy
A lease-option gives you the right, but not the obligation, to buy the home when the lease ends. If you decide not to buy, you'll usually lose your option fee and any rent credits.
Lease-Purchase: An Obligation to Buy
A lease-purchase obligates you to buy when the lease ends, so have a realistic plan to qualify for a mortgage by then.
Protect Yourself Before You Sign
Rent-to-own agreements are private contracts, so it pays to do your homework up front.
Verify the Seller
Confirm the seller owns the home and is current on the mortgage before you pay anything.
Get an Inspection
Have the home inspected, and get in writing who handles repairs. Tenants may be responsible for maintenance.
Have an Attorney Review It
Ask a real estate attorney to review the contract, and be wary of pressure to sign quickly.
Spend less time searching, more time getting ready to own your home
Rent-to-Own Listings Delivered to You
Rent-to-own homes can be hard to track down because they're spread across private sellers and smaller sites. MyHomeZilla brings them together and lets you know when new ones match your search.
Email Alerts
Get new rent-to-own listings that match your saved searches sent straight to your inbox.
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Plain-English Guides
Learn how rent-to-own works, what to look for in an agreement, and how to prepare for a mortgage, even with imperfect credit.
MyHomeZilla is not a lender or landlord and is not a party to any rent-to-own contract. We help you find homes and understand your options.